What the AKF Scholarship Actually Is
The AKF International Scholarship Programme (AKF ISP) was established in 1969 by the Aga Khan Foundation — a branch of the Aga Khan Development Network (AKDN), one of the world's largest private development networks. The programme's mission has remained consistent across five decades: fund talented, development-oriented students from low and middle income countries to pursue postgraduate education abroad, then bring those skills back.
The scholarship primarily funds master's degrees at recognized international universities. Doctoral funding is available but requires an exceptional case — and even then, AKF only covers the first two years of a PhD, not the entire doctorate. The study destination matters: the UK and Russia are currently excluded. Beyond that, universities do not need to appear on any specific ranking list, but they must be "reputable" in AKF's judgment. In practice, strong research universities and well-regarded professional programmes have been the norm.
Here is the structure of the award: 50% is a grant — money you do not repay. The other 50% is a loan, carrying a 5% annual service charge, repaid over five years starting six months after you graduate. This is not a hidden clause — AKF is explicit about it. With roughly 25 to 30 awards granted per year based on historical patterns, and several hundred applications per cycle, the acceptance rate sits below 5%. These are not impossible odds, but they are honest ones.
Two Things That Confuse Absolutely Everyone
These two misconceptions cause more failed applications — and more missed opportunities — than anything else.
"This Is Not Just for Ismaili Muslims"
Because the Aga Khan — the Imam of the Shia Ismaili Muslim community — founded this programme, a large number of applicants from eligible countries assume it is reserved for Ismaili Muslims. This assumption eliminates thousands of qualified candidates who never even look at the application.
The reality is straightforward: religion is not an eligibility criterion. The AKF International Scholarship Programme is open to any student from the 13 eligible countries regardless of faith, ethnicity, or community. What matters is academic record, genuine financial need, and a credible connection to development in your home country.
Separate, community-specific programmes exist for Ismaili students — but those are different programmes entirely. This guide is about the AKF ISP, which has no religious requirement.
"Half of It Is a Loan"
The word "scholarship" carries an implication of 100% free funding. AKF's award does not work that way. The package is 50% grant and 50% loan. The loan portion carries a 5% annual service charge and must be repaid over five years, starting six months after graduation.
AKF is transparent about this structure — they frame the scholarship explicitly as a "resource of last resort." They expect you to already have other funding sources in place and to request only the remaining gap. Applications that treat AKF as the primary funder from day one tend to be weaker than those that show AKF topping up a partially-funded package.
This does not make the award less valuable. Funding 50% of a postgraduate programme with no strings is significant. But understanding the structure before you apply changes how you frame your financial need — and that framing matters.
Is This Scholarship Right for You?
Four applicant profiles — and an honest take on where each stands.
The Development-Focused Master's Student
You have a bachelor's degree. You're applying for your first year of a master's. You're under 30. You're from one of the 13 eligible countries. You genuinely cannot fund this yourself. Your field connects clearly to development in your home country.
The PhD Researcher
You are exceptional. You need a PhD specifically for an academic or research career, and you understand that AKF only covers the first two years of a doctorate. You have a credible plan for the remaining years of your programme.
The Re-Applicant or Late Starter
You're over 30, or you've applied before and didn't make it. You're not automatically eliminated. The competition is stiffer and your profile needs to be genuinely strong — but a compelling reason for the timing and a clear development angle can still work.
The Already-Enrolled Student
Stop here. If you have already started your programme, you are ineligible. AKF only funds students entering their first year of study. This rule has no exceptions stated publicly, and no amount of strong credentials will overcome it.
What's in These 10 Pages
Each page answers a specific question — no filler, no repetition.
Quick Facts
| Programme Established | 1969 |
| Annual Application Window | January 1 – March 31 |
| Results Announced | Late June / Early July |
| Award Structure | 50% grant + 50% loan |
| Loan Service Charge | 5% per year |
| Repayment Period | 5 years (starts 6 months after graduation) |
| Priority Level | Master's (full programme); PhD (first 2 years only) |
| Part-time / Distance Learning | Part-time: never eligible. Distance: only if quality is maintained |
| Age Preference | Under 30 (no hard published cutoff) |
| Acceptance Rate | Less than 5% |
| Study Destinations Excluded | United Kingdom, Russia |
| Religion Requirement | None |
Scam Warning
AKF does not charge application fees. All official applications go through local AKF, AKES, or AKEB offices in eligible countries — not through third-party agents, websites, or consultants. If anyone is asking you to pay to apply, or promising guaranteed selection for a fee, it is a scam. The official AKF website is akdn.org. Any other domain offering AKF applications should be treated with suspicion.